Global Terrazzo Market is projected to grow at a high CAGR from 2017 to 2025
With industrialisation and the ever expanding business of construction, the global terrazzo market finds its refuge. Major builders and architects are shifting from tile to terrazzo flooring due to its comparative ease of maintenance and it being a permanent flooring solution. The terrazzo craze suffered in early 1960 to the 1980s but is back due to present day demand for simple, easy to maintain and affordable contemporary flooring by builders and architects alike and increasing disposable income of consumers over the years. With growing concerns about the environment, more and more builders are looking for environment-friendly options like terrazzo, as it is mechanically polished without any added chemicals which augment pollution. Homemakers are also looking to terrazzo flooring as it is affordable, long lasting and can be modelled as per client requests.
The report is designed to provide a complete view on the global terrazzo market. The report has been categorised into qualitative and quantitative insights over the forecast period (2017-2025). The demand and supply matrix section falls under the qualitative information category wherein the market dynamics for terrazzo market has been studied considering a short term forecast of the factors/ variables which have an impact on terrazzo market. The market segments and their respective estimates & forecasts has been covered under the quantitative information category. Regional estimates and forecasts & trend analysis for each country and region is also available in the study. The report concludes by providing the competitive landscape of the major market participants which are profiled by analysing their organic & inorganic growth strategies, regional presence, and product portfolio among others.
Study Technique: Global Terrazzo Market
The global terrazzo market has been studied from the year 2016 till 2025. However, the CAGR provided in the report is from the year 2017 to 2025. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process. The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the terrazzo market. The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers. Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the company’s manufacturing terrazzo, and customer analytics.
End-User Landscape (Consumer Profile): Terrazzo Market
Companies such as the Terrazzo Limited, Masterterrazzo INC., Doyle Dickerson Terrazzo, and The Venice Art Terrazzo Co., Inc. among others are investing extensively in the manufacturing and sale of terrazzo, which presents a huge opportunity to terrazzo suppliers. The report provides a detailed list of end-users operating across the world. The end-user landscape includes consumer contact details, geographical presence, revenue, product portfolio, organic, and inorganic growth strategies among others.
Global Terrazzo Market, By Raw Material
The major components involved in the manufacturing of terrazzo are cement or epoxy. Producing cement requires massive amounts of energy and adds vast quantities of carbon dioxide to the Earth's atmosphere. Epoxy is a petroleum-based product, which cannot be recycled and may contain phthalates, which are speculated as potential health and ecological hazards. However, both cement and epoxy based terrazzo has zero volatile organic compounds (VOC) and barely produce any effluents or residue. Polyacrylate terrazzo is better suited for areas exposed to moisture vapour transmission rather than epoxy or cement terrazzo. As opposed to materials like carpeting, wood or tile, terrazzo is monolithic in nature and does not have grout joints; therefore it does not require any kind of energy-intensive vacuuming, steam or grout cleaning saving on long-term expenses. Glass is an essential part of the terrazzo mix and keeping in mind the present day environmental scenario recycled glass is being used. Up to 95% of the content in recycled glass terrazzo is waste glass, which would otherwise remain unprofitable.
Global Terrazzo Market, By Application
Terrazzo is extremely long lasting, requires low maintenance and doesn't easily absorb water, which is why it's frequently used in high-traffic and commercial areas like airports, malls and office buildings. Hospitals mostly opt for terrazzo because it does not support bacterial growth or molds. Terrazzo is also gaining popularity as a type of flooring in houses. They are mostly used in bathrooms and kitchens. They last longer than tiles and therefore are a more viable option for homemakers who are looking for long term utility.
Regional Drivers for Terrazzo Market
3 Approach towards sustainable development
Terrazzo Limited, Masterterrazzo INC., Doyle Dickerson Terrazzo, The Venice Art Terrazzo Co., Inc., John Caretti & Co., Terrazzo and Marble Supply Companies, and Klein and Company, Inc. among others account for the major share in terrazzo market. Companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position. The other companies profiled in the report include: Terrazzco, Acadia Marble Tile & Terrazzo Ltd, H. B. Fuller Construction Products, RBC Industries Inc., Sherwin-Williams Co., Pave Tile & Stone, Inc., Key Resin Co., and Enviroglas Products, Inc.
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